F1 car racing has astounding number of followers in all parts of the world. Formula One is a huge event with a multitude of factors. And every factor has a detailed dimension. Types of circuits, aerodynamics, constructors, flags, logistics, sponsors, tyres, watches, tracks, tickets, etc have been discussed in this section. Going through this section, you will get an idea what Formula One is all about. Formula One combines human drama, cutting-edge technological innovation and high-stakes finance in a thrilling global circus watched by half a billion avid fans. The Fastest Show on Earth. Formula One (the formula in the name refers to a set of rules to which all participants and cars must comply and was originally and briefly known as Formula A) can trace its roots back to the earliest days of motor racing, and emerged from the buoyant European racing scene of the inter-war years. Plans for a Formula One drivers’ championship were discussed in the late 1930s but were shelved with the onset of World War Two. In 1946 the idea was rekindled and in that season the first races were held and the following year the decision was made to launch a drivers’ championship. It took until 1950 for the details to be hammered out and in May 1950 the first world championship race was held at Silverstone – the first F1 race had taken place a month earlier in Pau. Only seven of the twenty or so Formula One races that season counted towards the title but the championship was up and running. Even as more races were included in the championship, there were plenty of non-championship Formula One races. Non-championship races continued until 1983 when rising costs ruled them unprofitable. 1950 season included the inaugural Formula 1 world championship season. The championship included six Formula 1 races in Europe plus the Indianapolis 500. In the first modern Formula One race was held on 13th May, 1950 at Silverstone in England, Giuseppe Farino with his Alfa Romeo158 defeated legendary Argentinean Juan Manual Fangio, his nearest rival. However, it was Fangio, who dominated racing scene in the decade. Fangio won the title in 1951, 1954, 1955, 1956 and 1957. He is regarded the Grand Master of Formula One. Exploits of Senna glorified the world of motor racing. However, he died tragically in a car accident of track in 1994. Michael Schumacher emerged as the next superstar. Schumacher, with Ferrari, won an unprecedented five consecutive drivers’ championships and six consecutive constructors’ championships between 1999 and 2004. Renault driver Fernando Alonso ended Schumacher’s championship streak in September 2005. Currently, the world championships are dominated by manufacturer-owned teams like Renault, BMW, Toyota, Honda and Ferrari.